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Stock impact report

Aimco Partners with Sixth Street to Advance Its Next Luxury Rental Development

Apartment Investment and Management Company (AIV) 
Last apartment investment and management company earnings: 1/30 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.aimco.com
Company Research Source: PR Newswire
MIAMI, Sept. 16, 2024 /PRNewswire/ -- Apartment Investment and Management Company ("Aimco") (NYSE: AIV) today announced it has secured $56 million of preferred equity from leading investment firm Sixth Street for the development of a luxury water-front rental development, located at 560-640 NE 34th Street in Miami, Florida. Affiliates of Apollo (NYSE: APO) provided $172 million of senior construction financing to support the development. Aimco will serve as the developer and asset manager. The 38-story tower, adjacent to Aimco's recently completed redevelopment of The Hamilton, will include 114 luxury rental units, a highly tailored amenity package and ~7k square feet of ground floor retail space. The rental units will average more than 2,500 square feet, feature 9' – 10' foot ceilings, oversized private terraces, top-of-the-line finishes, and unobstructed views of Biscayne Bay."We are thrilled to advance this exciting project and bring a truly unique rental experience to one of Miami Show less Read more
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